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Hi All, Today I've resigned and my LOD is 2 Sept. Can anyone please let me know for these 90 days salary would be credited only after FnF. Or June'22 salary will be credited as usual, however, July and September salary would be credited during FnF. Please confirm or suggest.
Regards,
HCL Technologies
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Did you do it?
My top recommendation is to set yourself up as an LLC that files an an S-Corp for tax purposes. That way you can divide your business income into a salary portion and an owner’s profit portion. You’ll owe personal income tax on both portions, but you get to avoid payroll taxes on the owner’s profit portion. Furthermore, as long as the salary is “reasonable” it’s ok if it’s below average which allows the owner’s profit portion to be bigger.
I ended up not doing it… my spouse left me a year ago and I just didn’t have the capacity/bravery to go independent after that. Thank you so much for your thoughts, though, and I’ll add that advice to my list